Decision details

The Leader of the Council submitted a report providing details of:

·         The Revenue Outturn figures in respect of the last financial year, 2013/2014, detailing specific carry-forward requests and the proposed application of the carry-forward rules;

·         Major variances between the revised estimate and the outturn;

·         The level of school balances;

·    HRA outturn for the year;

·    The minimum level of balances in the light of risk assessments.

The figures in the report are consistent with the figures included within the Statement of Accounts which were approved by the Responsible Finance Officer on 5 June 2014 and approved by the Audit Committee on 15 July 2014. The figures in this report mirror the figures in the Accounts but are in a format consistent with the Revenue Budget approved by Council on 20 February 2013.

Delegated decisions:

That in view of the Council’s financial situation and the budget pressures faced in 2014/2015 and future years, it is recommended that the normal cash ceiling rules governing the carry forward of over and underspendings should be suspended and that:

·        The final Revenue Outturn and HRA Outturn for 2013/2014 be noted along with explanations for major variances.

·       Overspendings of the Children’s Services, Adult Care Services and Chief     Executive’s departments be not carried forward.

·        That the level of the General Fund balance be noted.

·        That the minimum level of the General Fund balance be retained at £4.5million subject to regular review as part of the budget monitoring process.

Reason for the decision:

The presentation of an annual report on the Revenue and HRA Outturn is a requirement of the Council’s Financial Regulations.

Other options considered and rejected:

To amend or reject the recommendations.